OIL & GAS

Despite the availability of 1,847,558,138 litres stock of the Premium Motor Spirit (PMS) petrol stock, its scarcity persisted in the country at the weekend. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in its document titled: “Petroleum Products Stock &…

After a prolonged dispute that hobbled oil production at Oil Mining Leases (OMLs) 123, 124, 126 and 137, operated by Addax Petroleum Nigeria Limited, the company has reached a close-out and signing ceremony of an asset transfer, settlement and exit agreement with…

NNPC Upstream Investment Services, NUIS, a subsidiary of NNPC, yesterday disclosed that it has entered an agreement with its partner, Chevron Nigeria to increase gas supply to the domestic market. Mr Bala Wunti, NUIS Chief Investment Officer, who disclosed this through his…

The Lagos State branch of the Nigeria Union of Petroleum and Natural Gas Workers have written to the Governor of Lagos State, Mr Babajide Sanwo-Olu, to check the activities of persons it described as unscrupulous elements harassing its members. The letter, dated October…

The Nigerian National Petroleum Company Limited (NNPC) has collapsed some of its subsidiaries in a bid to assume its new status as a commercially driven business entity. After the renaming of the National Petroleum Investment Management Services (NAPIMS), as the NNPC Upstream Investment…

In continuation of its ongoing restructuring and consolidation, the Nigerian National Petroleum Company (NNPC) Limited has changed the National Petroleum Investment Management Services (NAPIMS), an arm of the company to the ‘NNPC Upstream Investment Services (NUIS).’ The General Manager, Nigerian Petroleum Exchange (NIPEX),…

The price of 12.5kg of cooking gas rose by 61 per cent to N9,906 in September 2022 from N6,165 in September 2021. This was disclosed by the National Bureau of Statistics in its report on Liquefied Petroleum Gas (cooking gas) Price Watch for…

The Nigerian National Petroleum Company Limited (NNPCL) has said Nigeria with a capita consumption of 5.1 kilogramme of Liquefied Petroleum Gas (LPG), popularly called cooking gas ranks among the lowest in Sub-Saharan Africa. Group Chief Executive Officer of NNPCL, Mallam Mele Kyari, stated…

Motorists and commuters in Lagos and other Southwest states are in for a tougher time as more filling stations remained shot yesterday. Vehicular queues lengthened in the few stations that had supplies while bus stops had thousands of forlorn commuters. Expectedly, transport fares on…